Brussels, Belgium – April 27, 2004 – Basell announced today that it is increasing the price on all grades of its polypropylene and polyethylene products sold in Europe by €50 per tonne effective May 1.

"This increase is necessary in order to restore margins to satisfactory levels following the second quarter monomer price increases," said Werner Breuers, recently appointed president of Basell Polyolefins Europe.

Basell is the world's largest producer of polypropylene and advanced polyolefin products, a leading supplier of polyethylene and catalysts, and a global leader in the development and licensing of polypropylene and polyethylene processes. Basell, together with its joint ventures, has manufacturing facilities around the world and sells products in more than 120 countries. Additional information about Basell is available at www.basell.com.

For additional information, contact:

Michel Julien, senior vice president, Strategy Development, Basell Polyolefins Europe, at + 32 2 715 8124 or michel.julien@basell.com; Michelle Talmo, Basell Corporate Communications, at +1 302 438 6574, +1 410 996 1366 or michelle.talmo@basell.com